Dear Sir/s/Madam
I am writing on behalf of Bargach Finance Private Limited. This is a private limited company currently having branches in West Bengal (India) and shall be soon opening branches in 5 other states of the country.
The compnay is looking forward to provide Housing Renovation loans to customers through JLG mode. The proposed ticket size of the loans being Rs 50,000; Rs 75,000 and Rs 100,000 with a tenure of 2 years with weekly repayments. The company's major focus areas are semi-urban & rural areas, while it will also be operating in urban areas. The company has an initial paid up capital of Rs 2 crore with the paidup capital being increased to Rs 10 cr by 31st Dcember 2019.
Bargach is a group company of Vector Finance Private Limited. a RBI Licenced Non-Banking Finance Company MFI (NBFC MFI ). Vector Finance works is a micro-finance institution (MFI), providing loans to micro borrowers for income generation purposes. The company is also a member of MFIN and Sa-Dhan, the Self-Regulatory Organisations for Microfinance Institutions appointed by RBI.
Vector Finance operates in 6 states (59 districts) namely West Bengal, Odisha, Assam, Madhya Pradesh, Chhattisgarh and Tripura. It has a network of 162 branches, a gross loan portfolio of Rs 65+ crore & client based of nearly to 34000 women borrowers. The paidup capital of Vector Finance is Rs 23.54 crore and sanctioned borrowing limits (On book & Off book) to the tune of Rs 119 crore.
We wanted to check as to which all lenders are currently active in this filed and we (Bargach) can explore to work as Business Correspondent to lenders.
Regards
Sudhir Upadhyay
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Posted by: Sudhir Upadhyay <sudhir_ranchi@yahoo.co.in>
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